1. Why is the business plan so important for an entrepreneur?

2. Why is the form of business ownership important to a lending institution?

3. Why does a financial institution want to know the long-term goals for a business?

4. Why should an entrepreneur consider hiring an attorney when writing a business plan proposal?

Business plans are the key to acquiring finances for a startup business. The business plan is the entrepreneur’s tool for evaluating, organizing, and selling a business concept. Select a business to start in your community. Your business plan should include an Executive Summary, Company Description, Industry Analysis, Target Market, Competitive Analysis, Marketing Plan and Sales Strategy, Operation, Management and Organization, Long-Term Development, and Financials. Pay special attention to the legal form of business ownership and the legalities involved with the form of ownership. Include attachments such as certifications, licenses, and tax requirements. The business plan can be single- or double-spaced but cannot be more than 30 pages in length. The oral presentation will include five minutes for set up and ten minutes to present your business plan. Visual aids may be used during the presentation. Performance Indicators Evaluated

• Understand the complete business plan.

• Describe the form of business ownership and legal agreements.

• Present the business plan with confidence and authority.

• Reinforce the business plan with appropriate research.

• Reinforce the presentation with appropriate visual aids.

• Produce a clear and concise written document that follows grammar, punctuation, spelling, and business style rules.

• Demonstrate understanding of policies and procedures manuals.

For more detailed information about performance indicators, go to the FBLA web site.